Use the following selected financial data from the balance sheet at the end of 2015 and 2014:
Net income for 2015 and 2014 was $120,000 and $460,000, respectively. No stock was issued during either year, but dividends of $20,000 and $16,000 were paid in 2015 and 2014, respectively.
Definitions:
Hypodermis
Also known as subcutaneous tissue, it's an underlying layer of fat and connective tissue beneath the dermis.
Thermoregulation
The process by which living organisms regulate their body temperature, maintaining it within a range that allows for optimal functioning.
Sebaceous Gland
A type of exocrine gland in the skin that secretes sebum, an oily substance, into hair follicles to lubricate the skin and hair.
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